Apollo to acquire a 50% stake in Broad Reach Power from EnCap.

Apollo Global, an alternative asset manager, agreed to acquire a 50% stake in Broad Reach Power, an utility-scale storage platform, from EnCap, a venture capital. Financial terms were not disclosed. “This transaction unites Apollo with a terrific shareholder group that has demonstrated significant conviction, commitment, and success in building a large and nimble clean energy platform. We look forward to collectively supporting Steve and his team in their future growth,” Corinne Still, Apollo Principal.